Core Viewpoint - Zhejiang Weiming Environmental Protection Co., Ltd. has triggered the conditional redemption clause for its "Wei 24 Convertible Bonds" due to the stock price exceeding 130% of the conversion price for fifteen trading days, leading to the board's decision to redeem the bonds early [2][7][8]. Group 1: Redemption Trigger and Decision - The stock price of Zhejiang Weiming Environmental Protection has been above 22.82 yuan per share (130% of the conversion price) for fifteen trading days from November 5 to November 26, 2025, triggering the conditional redemption clause [2][7]. - The board of directors convened on November 26, 2025, and unanimously approved the early redemption of "Wei 24 Convertible Bonds" at face value plus accrued interest [8]. Group 2: Bond Issuance Overview - The "Wei 24 Convertible Bonds" were issued on March 28, 2024, with a total of 2.85 million bonds, each with a face value of 100 yuan, amounting to a total of 28.5 million yuan [3]. - The bonds have a six-year term with a tiered interest rate starting from 0.20% in the first year to 2.00% in the sixth year [3]. Group 3: Conversion Price Adjustments - The initial conversion price was set at 18.28 yuan per share, which was adjusted to 18.03 yuan on June 24, 2024, and further adjusted to 17.55 yuan on June 6, 2025, due to profit distribution [3][4]. Group 4: Investor Options and Implications - Investors holding "Wei 24 Convertible Bonds" can either trade in the secondary market or convert at the adjusted price of 17.55 yuan per share, or face mandatory redemption at 100 yuan per bond plus accrued interest [2][11].

证券日报网讯 11月26日晚间，伟明环保发布公告称，公司已于2025年11月26日召开第七届董事会第二 十三次会议，审议通过了《关于提前赎回"伟24转债"的议案》，公司董事会决定行使"伟24转债"的提前 赎回权，按照债券面值加当期应计利息的价格对赎回登记日登记在册的"伟24转债"全部赎回。投资者所 持"伟24转债"除在规定时限内通过二级市场继续交易或按照17.55元/股的转股价格进行转股外，仅能选 择以100元/张的票面价格加当期应计利息被强制赎回。若被强制赎回，可能面临较大投资损失。 （文章来源：证券日报） ...

建龙微纳：终止筹划重大资产重组事项 天能转债：提议下修 三房转债：不下修 伟24转债：强赎 中天精装：参投企业2亿元设立半导体公司 中天精装公告，其通过中经芯玑参投的芯玑半导体，出资19980万元与长江云河、上海世禹共同设立长江半导体，后两者分别出资19980 万元、20040万元，分别持有长江半导体33.30%、33.30%和33.40%股权 南特科技：北交所新股【上市】 美股感恩节【休市】 | 转债代码 | 转债名称 | とかけく以重える目 类型 | 日期 | 公告 | | --- | --- | --- | --- | --- | | 111012 | 福新转债 | 不强赎 | 2025-11-27 | 公告 | | 113683 | 伟24转债 | 强赎 | 2025-11-27 | 公告 | | 110092 | 三房转债 | 不下修 | 2025-11-27 | 公告 | 福新转债：不强赎 关注集思录微信 特别提示 本文不构成任何投资建议，仅为信息分享。任何因本文导致的投资行为发生的亏损，本公众号及作者概不承担任何责任。 集思录(www.jisilu.cn)是一个以数据为本的投资理财社区，专注于新 ...

2025年第一次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603568 证券简称：伟明环保 公告编号：临2025-076 转债代码：113652 转债简称：伟22转债 转债代码：113683 转债简称：伟24转债 浙江伟明环保股份有限公司 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议采用现场投票与网络投票相结合的表决方式，由公司董事会召集，本次会议采用现场投票与网 络投票相结合的表决方式，由公司董事会召集，公司董事长项光明先生主持会议。本次会议的召集、召 开程序及表决方式等符合《公司法》和《公司章程》的有关规定。 (五)公司董事、监事和董事会秘书的出席情况 1、公司在任董事9人，出席6人，独立董事李莫愁女士、董事朱善玉先生和项奕豪先生因工作原因未出 席本次会议； 2、公司在任监事3人，出席3人； 3、董事会秘书出席会议，其他高管列席会 ...

证券日报网讯 11月19日晚间，伟明环保发布公告称，自2025年11月5日至2025年11月19日，公司股票已 有十个交易日收盘价不低于"伟24转债"当期转股价格的130%。若在未来十九个交易日内，公司股票有 五个交易日的收盘价不低于当期转股价格的130%（含130%），即22.82元/股，将触发"伟24转债"的有 条件赎回条款。届时根据《浙江伟明环保股份有限公司向不特定对象发行可转换公司债券募集说明书》 中有条件赎回条款的相关约定，公司有权按照债券面值加当期应计利息的价格赎回全部或部分未转股 的"伟24转债"。 （文章来源：证券日报） ...

Core Insights - The report highlights the performance of three investment strategies: Low Price Enhancement, Improved Dual Low, and High Price High Elasticity, which recorded returns of 1.3%, 0.5%, and 0.7% respectively during the last period, outperforming the benchmark return of 0.3% [1] - Year-to-date, these strategies have achieved returns of 17.4%, 28.2%, and 52.2%, with cumulative excess returns of 0.3%, 11.2%, and 35.2% compared to the benchmark return of 17.0% [1] - The equity market experienced fluctuations, with the Wind All A and CSI Convertible Bonds rising by 1.5% and 0.3% respectively, indicating a resurgence of low volatility strategies [1] Low Price Enhancement Strategy - The latest holdings include new entries such as Jinggong Convertible Bond (Construction Decoration), Shangyin Convertible Bond (Bank), and Yangfeng Convertible Bond (Basic Chemicals) among others [2] - The adjustment rationale is based on the strong performance of the low price index (1.4%) and the resurgence of low volatility strategies, with a focus on stable or improving performance and reasonable premium rates [3] Improved Dual Low Strategy - The latest holdings feature new entries like Shangyin Convertible Bond (Bank) and Zhonghuan Convertible Bond (Environmental Protection) [4] - Adjustments were made due to the upward movement of the dual low index (0.4%), with a focus on stocks with improved performance or stable operations while avoiding those with high redemption progress [5] High Price High Elasticity Strategy - The latest holdings include new entries such as Wankai Convertible Bond (Basic Chemicals) and Shuiyang Convertible Bond (Beauty Care) [6] - The strategy's adjustments were influenced by the decline in high price index returns (-1.5%) and the need to manage redemption risks while maintaining a balanced industry allocation [7]

Core Viewpoint - The announcement details the conversion results of the convertible bonds "Wei 22" and "Wei 24" issued by Zhejiang Weiming Environmental Co., Ltd, highlighting the cumulative conversion amounts and the remaining unconverted bonds as of September 30, 2025 [2][8][9]. Summary by Sections 1. Cumulative Conversion Status - As of September 30, 2025, a total of RMB 181,000 of "Wei 22" bonds have been converted into 5,662 shares, representing 0.00033% of the total shares before conversion [2] - For "Wei 24" bonds, RMB 258,000 have been converted into 14,312 shares, accounting for 0.00084% of the total shares before conversion [2] - The unconverted amount for "Wei 22" bonds is RMB 1,476,819,000, which is 99.98775% of the total issuance [2] - The unconverted amount for "Wei 24" bonds is RMB 284,742,000, which is 99.90947% of the total issuance [2] 2. Conversion Details for "Wei 22" Bonds - The conversion period for "Wei 22" bonds is from January 30, 2023, to July 21, 2028 [8] - During the quarter from July 1, 2025, to September 30, 2025, RMB 1,000 of "Wei 22" bonds were converted into 36 shares, which is 0.000002% of the total shares before conversion [8] - The latest conversion price for "Wei 22" bonds is RMB 27.27 per share, adjusted from an initial price of RMB 32.85 per share [3][4][5] 3. Conversion Details for "Wei 24" Bonds - The conversion period for "Wei 24" bonds is from October 8, 2024, to March 27, 2030 [9] - During the same quarter, RMB 7,000 of "Wei 24" bonds were converted into 395 shares, which is 0.00002% of the total shares before conversion [10] - The latest conversion price for "Wei 24" bonds is RMB 17.55 per share, adjusted from an initial price of RMB 18.28 per share [6][7] 4. Share Capital Changes - As of September 30, 2025, the company has a balance of 10,610,185 shares in the repurchase special securities account, with 431 shares used for the conversion of "Wei 22" and "Wei 24" bonds during the quarter [10]

Core Viewpoint - The announcement from Zhejiang Weiming Environmental Co., Ltd. corrects the date of a significant equity change involving major shareholders, indicating a reduction in their combined shareholding from 74.84% to 70.00% due to various trading activities and the impact of convertible bonds [1][3][4]. Summary by Sections Equity Change Notification - The initial notification regarding the equity change mistakenly stated the start date as May 9, 2022, which has been corrected to May 9, 2020 [1][3]. - The equity change period is from May 9, 2020, to September 18, 2025, during which major shareholders reduced their holdings through various trading methods [3][4]. - The combined shareholding of major shareholders decreased from 74.84% to 70.00%, triggering a 5% threshold change [4]. Convertible Bonds Impact - The company issued 12 million convertible bonds (referred to as "Wei 20 Convertible Bonds") on November 2, 2020, with a total value of 120 million yuan [4]. - The bonds entered the conversion period on May 6, 2021, and were fully redeemed on December 6, 2021, leading to an increase in the total share capital by 46,698,549 shares [4]. - The conversion of these bonds resulted in a passive decrease in the shareholding percentage of the information disclosure obligors [4]. Employee Stock Ownership Plan Extension - The board approved an extension of the 2021 employee stock ownership plan by an additional 24 months, now set to expire on December 5, 2027 [6][11]. - The original duration of the plan was 24 months, from December 6, 2021, to December 5, 2023 [7]. - As of the announcement date, the employee stock ownership plan holds 13,789,772 shares, representing 0.81% of the current total share capital [9][11].

Summary of Key Points Core Viewpoint - Zhejiang Weiming Environmental Co., Ltd. announces the interest payment details for its convertible bonds "Wei 22 Convertible Bonds" which will start on July 22, 2025, for the interest period from July 22, 2024, to July 21, 2025 [1][4]. Group 1: Convertible Bond Issuance Overview - The "Wei 22 Convertible Bonds" were issued on July 22, 2022, with a face value of 100 RMB per bond [1]. - The bonds have an annual interest payment structure, with the first interest payment due on July 22, 2025 [2][3]. Group 2: Interest Payment Details - The interest rate for the third year is set at 0.80% (including tax), resulting in an interest payment of 0.80 RMB per bond [4]. - The interest payment dates include the record date on July 21, 2025, and the payment date on July 22, 2025 [1][4]. Group 3: Taxation on Interest Income - Individual investors are responsible for paying a 20% tax on the interest income, leading to a net payment of 0.64 RMB per bond after tax [5]. - Non-resident enterprises are exempt from corporate income tax on the interest income from these bonds [5]. Group 4: Contact Information - The company provides contact details for inquiries related to the bond interest payments, including addresses and phone numbers for their legal and securities departments [6].

Investment Rating - The report maintains a "Positive" investment rating for the environmental protection and testing sector [9] Core Insights - As of June 28, 2025, there are 23 convertible bonds listed in the environmental protection and testing sector, with a total issuance scale of approximately 233.9 billion yuan and a latest balance of 192.0 billion yuan. The sector features several low-price and low-premium convertible bonds, suggesting potential investment opportunities driven by profitability and conversion [2][4][20] - The report recommends focusing on convertible bonds such as Wei 22, Wei 24, Green Power, Yingfeng, Hongcheng, Wangneng, and Guojian, highlighting their potential for price appreciation due to underlying stock performance [6][30] Summary by Sections Convertible Bonds Overview - The environmental protection and testing sector has 23 convertible bonds currently trading, with a total remaining scale of 192 billion yuan. Among these, 1 bond is from a central enterprise, 3 from local state-owned enterprises, and 19 from private enterprises [4][20] - There is 1 convertible bond currently in the issuance application stage, with a scale of 4.93 billion yuan from Shengjian Technology [24] Issued and Delisted Convertible Bonds - As of June 28, 2025, 21 convertible bonds have been delisted from the environmental protection and testing sector, with a total issuance scale of 152.9 billion yuan. Five bonds were delisted in 2024, with an average time to maturity of 1.08 years [5][26] Investment Strategy - The report emphasizes two main drivers for investment: profitability and conversion. Profitability can be enhanced through capacity expansion and exploring new growth avenues, which may lead to stock price increases and higher conversion values. If the premium rate of convertible bonds remains stable or decreases slightly, their prices are expected to rise [30][32] - Conversion may be driven by increased capital expenditures for new projects or weakened cash flow from existing projects, potentially leading to adjustments in conversion prices and indirectly boosting bond prices [30][32] Financial Projections - The report includes financial forecasts for several companies in the sector, indicating expected growth in net profits and corresponding price-to-earnings (PE) ratios for the years 2024 to 2027 [31]